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Tuesday, 25 February 2014 00:02 - - {{hitsCtrl.values.hits}}
In response to growing concern about rising youth unemployment around the world, CIMA has produced an innovative syllabus focused on equipping the finance professionals of the future with the skills to meet the business needs of today and tomorrow.
For the qualification to remain relevant and enhance the employability of members, CIMA’s global research led to the development of a competency framework and a new assessment process addressing the skills and competencies employers require from their finance team.
The research conducted involved face-to-face meetings with leading organisations in the UK, US, South Africa and Malaysia, roundtable discussions in 13 countries and a global questionnaire to over 3,000 participants.
The competencies identified by top employers are core accounting and finance skills, business acumen, people skills and leadership skills. This insight has been instrumental in creating a syllabus designed to meet the needs of both students and employers to support better business.
New topic areas relevant to accounting in business, such as managing big data, finance function transformation and sustainability have been included with integrated case studies added at each level of the qualification to consolidate learning and reflect real-life work situations.
Major changes have also been made to the assessment of candidates in line with developments in the use of technology in education and industry. Students will now benefit from online assessment and exams on demand – through a partnership with Pearson VUE – allowing them to choose their own pace of progression.
Students who complete the CIMA qualification earn the Chartered Global Management Accountant designation formed by the AICPA and CIMA to highlight the importance of management accounting in today’s economy.
Speaking on the updated syllabus, CIMA Chief Executive Charles Tilley FCMA, CGMA said: “CIMA is committed to supporting the next generation of global finance leaders and ensuring that our members stay at the forefront of developments in the business world throughout their careers. When designing the 2015 syllabus, we set out to enhance its relevance to employers, to ensure the rigour of the related examinations and to align the learning experience of candidates to the real world of business. I feel we have succeeded in this.”
2015 syllabus totally research-lead
CIMA President Malcolm Furber, FCMA, CGMA continued: “The fact that the 2015 syllabus is totally research-lead and informed by those on the front line of business, makes it a real piece of best practice for addressing the employability needs of both employers and students. We are delivering a world class combination of computerised assessments, including integrated case studies and are the first global accountancy body to pioneer this. Although the syllabus is focused on finance professionals our approach may be of interest to employers, educators and regulators and we look forward to working with others in the public interest.”
Shell Tax Americas Vice President Jim Robertson said: “It is clear that CIMA’s updated syllabus has been founded in solid employer research as it recognises what we want and need from our finance talent - professionals with both the necessary practical and theoretical skills. It’s like a ‘finance MBA’ but unlike an MBA, requires continuous professional development and the upholding of a rigorous code of ethics, which gives employers the assurance that our talent will have a globally consistent approach to driving sustainable business success.”
Pearson VUE President and CEO Bob Whelan commented: “One of the advantages of computer-based testing is the ability to create new and different question types to test the learning outcomes. The learning outcomes themselves and sound test design are at the heart of this project.”
The 2015 syllabus was launched at an event held at the ME London Hotel at the Strand, London. The launch, hosted by Malcolm Furber and Charles Tilley, included a panel discussion facilitated by TV and radio journalist Sarah Montague, presenter on BBC Radio 4s flagship Today program. Panellists included Founder and CEO of BraveNewTalent.com, Lucian Tarnowski, who spoke on the convergence of talent and technology and its impact on the future of the global workforce and education. The keynote speaker was Lynda Gratton, Professor of Management Practice at the London Business School and a TEDx and Davos lecturer, who spoke on empowering the next generation of business leaders.
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